Current Issue

March/April 2019 | Vol. 34 | No. 2

Featured Articles

Lisa Osofsky views her dual citizenship as an advantage at the SFO. She’s worked in the anti-fraud private and public sectors, and in the U.S. and U.K. judicial and prosecutorial systems. She intends to use proactive techniques, global cooperation
and the latest financial tools to make the U.K. an inhospitable environment for fraudsters.

Criminals are using a new form of fraud called credit privacy numbers (CPN) to defraud financial institutions and game credit bureaus. Fraud examiners will have to pool their resources and use investigative skills to connect the dots between credit
bureaus and banks, and find new ways to combat this plague.

Doing good deeds is generally recognized as positive. However, these gestures sometimes can be part of a psychological process to license and compensate for aberrant behaviors. A fraud examiner who’s aware of the potential psychological ramifications
of these deeds might be able to proactively interdict fraud schemes and mitigate losses of these schemes.

Fraudsters increasingly are using shell companies to commit everything from asset misappropriation and money laundering to bribery and corruption schemes. Audit committees want fraud examiners to make sure their organizations aren’t victims. Here’s
how to use fraud data analytics to sniff out illegal shells.

Members of the board of 1MDB — a Malaysian federal strategic investment fund — and top Malaysian government officials plus private citizens allegedly illegally syphoned and laundered billions from the fund. Here’s how they escaped controls and
lined their pockets.